Bill Winters , the former co-chief executive officer of JPMorgan Chase & Co. ’s investment bank, is planning to launch an asset management and hedge fund venture in London backed by Jacob Rothschild’s RIT Capital and Johann Rupert’s Reinet fund, the Financial Times reported, citing a person familiar with the plan. The new venture, which may be announced today, will start up with tens of millions of pounds in capital and will begin as an advisory business, the newspaper said.

The Bank of England’s forecasting capabilities have deteriorated in the past five years, resulting in “large” errors, and officials should investigate the reasons for such shortcomings, an independent review said today.

JPMorgan Chase & Co.’s Mike Cavanagh, who served as a close deputy to Chief Executive Officer Jamie Dimon for more than two decades, will leave to become co-chief operating officer of Carlyle Group LP.

James E. Staley, the JPMorgan Chase & Co. executive once seen as a candidate to become chief executive officer, quit to join BlueMountain Capital Management LLC, the $12 billion hedge fund that profited from the bank’s trading loss last year.